Foreclosures | Mortgages | Financing
BBX Capital Corp. said Tuesday its timeshare unit Bluegreen Corp. has confidentially filed for an initial public offering. No price range or other terms have yet been determined and there is no guarantee a transaction will take place.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Medtronic Plc. said Tuesday it had net income of $1.016 billion, or 74 cents a share, in its fiscal first quarter to July 28, up from $929 million, or 66 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.12, ahead of the FactSet consensus of $1.08. The Dublin-based medical equipment maker said sales rose to $7.39 billion from $7.17 billion, below the FactSet consensus of $7.45 billion. Chief Executive Omar Ishrak said revenue was hurt by a global IT disruption in June and temporary Diabetes sensor supply constraints. “While these temporary issues had affected first quarter revenue growth, we continued to drive operating margin expansion,” Ishrak said in a statement. Shares were indicating higher in premarket trade, but have gained 17% in 2017, while the S&P 500 has gained 8.5%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Provident Financial PLC shares plunged 57% after the company issued its second profit warning in recent months on Tuesday. The U.K. lender said Tuesday that it expects to log a loss between 80 million pounds and £120 million in the third quarter, citing a “substantial deterioration” in the performance of its home credit business. In June, Provident warned of a £60 million loss for the period. The company said in its trading update Tuesday that it is withdrawing the interim dividend declared on July 25 and signaled that a full-year dividend is unlikely. Provident’s chief executive, Peter Crook, is stepping down with immediate effect. It said debt collections are at 57% compared with 90% in 2016, and sales are £9 million a week lower. The disappointing home credit performance comes after Provident shifted to using full-time “customer experience managers” rather than self-employed agents.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Provident Financial PLC has issued its second profit warning in recent months after what the U.K. lender described as “substantial deterioration” in the performance of its home credit business. The company said Tuesday that it expects to log a loss between 80 million pounds and £120 million in the third quarter. In June, Provident warned of a £60 million loss for the period. The company said in its trading update Tuesday that it is withdrawing the interim dividend declared on July 25 and signaled that a full-year dividend is unlikely. Provident’s chief executive, Peter Crook, is stepping down with immediate effect. It said debt collections are at 57% compared with 90% in 2016, and sales are £9 million a week lower. The disappointing home credit performance comes after Provident shifted to using full-time “customer experience managers” rather than self-employed agents.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Krystal Biotech Inc. plans to raise up to $35 million in an initial public offering, according to a Securities and Exchange Commission filing late Monday. The Pittsburgh-based gene therapy company is a developer of treatments for dermatological diseases. With no revenue, Krystal reported a net loss of $1.2 million, or $5.89 a share, for 2016. Ladenburg Thalmann & Co. was listed as the underwriter for the IPO. Krystal intends to list on the Nasdaq under the ticker symbol “KRYS.”
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Nordson Corp. shares dropped in the extended session Monday after the industrial machinery company’s outlook fell short of Wall Street estimates despite a beat on quarterly results. Nordson shares fell 9.5% to $113.30 after hours. For the fiscal fourth quarter, Nordson estimates earnings of $1.18 to $1.32 a share. Analysts surveyed by FactSet expect $1.56 a share. The company reported fiscal third-quarter net income of $101.5 million, or $1.74 a share, compared to $84.2 million, or $1.46 a share, in the year-ago period. Adjusted earnings were $1.78 a share. Revenue rose to $589.4 million from $489.9 million in the year-ago period. Analysts had estimated $1.67 a share on revenue of $576.3 million.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
U.S. stock-market indexes closed mostly higher on Monday, with the Dow industrials taking back some ground after the worst two-day drop in nearly a year. The Dow Jones Industrial Average switched between small gains and losses, ending the session 29.24 points, 0.1%, higher at 21,703.75, helped by a rally in shares of Home Depot Inc. ,which rose 1.2%. The S&P 500 closed 2.82 points, or 0.1%, higher at 2,428.37 amid light trading volume. Analysts said the tepid moves on Wall Street were due to geopolitical tensions and ongoing political turmoil in Washington. The Nasdaq Composite index closed 3.4 points, or less than 0.1% lower, at 6,213.13. Among the worst performers on Wall Street, Foot Locker Inc. fell more than 7%, adding to a 28% slide on Friday. The company has lost nearly 40% of its value since the start of the year.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Oil prices settled sharply lower Monday, pressured by expectations for further growth in U.S. crude production, as little news emerged from a technical meeting of OPEC and non-OPEC producers. “The fundamentals of the oil market remain bearish for now as U.S. production continues to grind higher and OPEC has so far failed at trying to offer material support to the market through their policy decisions,” said Tyler Richey, co-editor at the Sevens Report. September WTI crude fell $1.14, or about 2.4%, to settle at $47.37 a barrel on the New York Mercantile Exchange. It gained 3% on Friday.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Target Corp. said Monday that it will release the latest iteration of its children’s collection Art Class, designed with help from six kids, all “trendsetters” and social media personalities between the ages of 13 and 16, on August 27. The “Fall Semester” features more than 50 items, most priced under $20, and includes pins, paints and patches so merchandise can be personalized. Target is focused on growing its portfolio of private labels over the coming months, with Cat & Jack, its year-old children’s line, surpassing $2 billion in sales. Target shares are up 2% in Monday trading, but down 21.4% for the year so far. The S&P 500 index is up 8.3% for 2017 to date.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Gold prices climbed Monday to mark their highest settlement since early June as rising tensions between the U.S. and North Korea lifted investor demand for the precious metal. The move for gold comes ahead of the economic policy symposium of global central bankers that begins Thursday, which could offer clues from central bankers on any shifts to monetary policy. December gold rose $5.10, or 0.4%, to settle at $1,296.70 an ounce. That was the highest finish since June 6, according to FactSet data.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News